Property rights allowing individuals to own goods, services, and factors of production are MOST important in
a. socialistic economies.
b. planned economies.
c. capitalistic economies.
d. command economies.
Answer: c. capitalistic economies.
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If the average productivity of Indian firms is rising more quickly than the average productivity of American firms, which of the following would you expect to see? (India's currency is the rupee.)
A) an increase in the prices of Indian products B) a decrease in the value of the rupee relative to the dollar C) an increase in the quantity demanded of Indian products relative to American products D) All of the above are correct.
If real GDP and aggregate expenditure are greater than equilibrium expenditure, what happens to firms' inventories? How do firms change their production? And what happens to real GDP?
What will be an ideal response?